An almost empty Hornblower tour boat operated from the Canadian side of the Niagara River is seen in Niagara Falls, Ont., on Tuesday, July 14, 2020. Anti-COVID measures, particularly the closure of the U.S. border, had prompted a steep decline of visitors to one of the world's top tourist destination.
The good news for poncho-ready tourists flocking to the falls this year is that Hornblower’s services in Canada won’t be impacted by the restructuring, the company says in a news release.An almost empty Hornblower tour boat operated from the Canadian side of the Niagara River is seen in Niagara Falls, Ont., on Tuesday, July 14, 2020. Anti-COVID measures, particularly the closure of the U.S. border, had prompted a steep decline of visitors to one of the world's top tourist destination.
Bankruptcy protection is a temporary measure given to companies in financial trouble that pauses any legal action by lenders looking to recoup their money.Now the company is embarking on a complicated restructuring process to overcome $1.2 billion of debt stemming from COVID-19 restrictions, which had a "profoundly adverse effect" on operations for several years, said a report filed by
Hornblower has a deal with Niagara Parks, giving it exclusive rights to provide poncho-wearing customers the chance to see the falls up close through 2043, which it plans to honour.
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